29th Oct 2009 11:00
|
Press Release |
29 October 2009 |
Hightex Group plc
("Hightex" or "the Group")
Hightex wins €18.9 million contract for Olympic Stadium Kiev, Ukraine
Hightex Group plc (AIM:HTIG), a leading designer and installer of large membrane roofs and façades worldwide, announces today that it has been awarded its largest contract to date, to supply the membrane roof and cable system for the Olympic Stadium in Kiev, Ukraine. The contract, worth approximately €18.9 million, will involve fabrication and installation of the main roof radial cable system and the complete membrane roof system. The new roof is part of the ongoing redevelopment of the Kiev stadium for the UEFA 2012 Euro football championships.
The total contract value is approximately €18.9 million, a substantial part of which will be earned during Hightex's year ending 31 December 2010. The design work for the Olympic Stadium will commence at once.
Commenting on the contract win, Charles DesForges, Chairman of Hightex Group plc, said: "Combined with the recent contract award for the national stadium in Warsaw, the Kiev contract win has substantially increased the present visibility of 2010 revenues above the €10 million contributed by the Warsaw contract win, as announced in August. The award of such a prestigious contract is a tribute to the skills and experience of the Hightex team and confirms its position as one of the foremost companies in the world for the design and installation of large area membrane structures."
The roof is a ring cable structure which is composed of two outer steel compression rings, an inner tension ring and upper and lower radial cables. The membrane is a special laminated PTFE/glass mesh membrane with high light transmission, and the roof will be divided into 80 individual panels totaling an area of approximately 48,500m². The final membrane form is achieved by a series of 8 high points per panel. The high points are constructed using cables and flying masts. Hightex's contract is for the design, fabrication and specialist erection of the fabric membrane system as well as the planning and erection of the approximately 780t of structural cables forming the cable roof structure. The contract also includes the provision of transparent skylights to the membrane high points.
The project was designed by the Aachen branch of the international architect gmp-Architekten, Germany with the structural engineering being provided by Schlaich Bergermann & Partners, Stuttgart, Germany.
- Ends -
For further information:
|
Hightex Group plc |
|
|
Charles DesForges, Chairman |
Tel: +44 (0) 20 7603 1515 |
|
Charles Sebag-Montefiore, Non-Executive Director |
www.hightexworld.com |
|
Singer Capital Markets Limited |
|
|
Jeff Keating / Claes Spång Corporate Finance |
Tel: +44 (0) 20 3205 7500 |
|
www.singercm.com |
Media enquiries
|
Abchurch Communications Limited |
|
|
Charlie Jack/ Stephanie Cuthbert |
Tel: +44 (0) 20 7398 7706 |
|
www.abchurch-group.com |
Notes to Editors
Hightex Group is a specialist provider of large area architectural membranes for roofing and façade structures. The membranes are typically used in roofs and façades for sporting stadiums and arenas; airport terminals; train stations; shopping malls and other buildings. This type of structure is a competitive alternative to glass as it is cheaper, lighter, and safer as well as being flexible to create complex shapes and it can span larger areas. Hightex uses environmentally friendly materials and is focussed on innovative technology and coatings, which help to reduce a building's energy costs.
Hightex, one of only two international companies to design and install these structures worldwide, has been involved in the construction of a number of very high profile buildings including The Wimbledon centre court retractable roof, the Burj al Arab Hotel in Dubai, the roof of the Suvarnabhumi International Airport in Bangkok and the grandstand roof at Ascot Race Course.
The global market for membrane structures is estimated by the Hightex directors to approach around €350 million a year, and is growing as a result of the demand for energy efficient buildings and the popularity and cyclical nature of sporting events, which give rise to a continuing need for upgraded and new buildings and stadiums.
Headquartered in Rimsting, Germany the Group employs approximately 45 people and is listed on the AIM market of the London Stock Exchange (LSE: HTIG). Further information on Hightex Group plc can be found at www.hightexworld.com
Related Shares:
Hightex Group